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Bank Quotations Bid Ask Deutsche Bank :$ $ 1 . 9 7 1 2 $ 1 . 9 7 1 7 Credit Lyonnais :$ $

Bank Quotations Bid Ask
Deutsche Bank :$ $1.9712 $1.9717
Credit Lyonnais :$ $1.4738 $1.4742
Credit Agricole :1.33101.3317
a. Given the above market quotations, is there an arbitrage opportunity? Justify.
b. If you are given $1,000,000, how much profit can you make? Show your steps.
c. If you are given 1,000,000, how much profit can you make? Show your steps.

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